Nvidia trades to a new all-time high. AI euphoria continues.

Shares of Nvidia has reached a new all-time high of $422.76. That took out the high price from May 30 at $419.38. For the trading year, the price is now up 188.26%. The price closed in 2022 at $146.14.

Shares of Apple are trading up $0.94 or 0.51% $184.21. That would represent a new all-time high close for the stock. Its intraday high price reached $184.93 back on June 5.

Adobe has been on a tear recently and is currently up $3.52 or 0.73% at $482.32. Yesterday the price spiked to a high of $491.51 before rotating back to the downside and closing at $478.99. That was still the highest close since February 2022. Adobe will announce their earnings tomorrow after the close. Traders seem to be looking for an Nvidia moment (recall the spike higher after their earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term and forward guidance). Shares are up 45.19% since May 12 low at $331.89. The share price at the end of the year at $336.53. The price fell -40.65% in 2022. That was its worst year since 2008 when its stock fell -43%. In 2009 the share price snapped back 72.76%.

Microsoft is trading to a new high going back to December 2021. The high price today reached $339.03. That took out the previous high price of $338.90 reached on June 5.

Tesla shares are down for the 1st time in 14 trading days but trying to rebound. The price is still down around -$0.80 or -0.31% at $257.92. The low price reached $255.25.

A non-AI stock that has been on a run of late is Delta Air Lines which is on a 14-day run to the upside. Over that time, the price as moved from a low on May 24 of $34.51, to a high price today of $42.20 (up 22.28%). The current price is trading up $0.47 or 1.14% at $42.04.

The Dow Industrial Average is still down on a day by -93 points or -0.27%. The S&P is up 18.47 points or 0.42% at 4387.89. The NASDAQ index is up 73.46 points or 0.54% at 13646.48. UnitedHealth is the big drag for the index. Its shares are down -7.24%. Of the 30 Dow stocks there are only 7 stocks lower and 23 stocks higher. The biggest gain is Nike at up +5.12%. Intel continues its run to the upside with a gain of 2.26%.

The NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is on a seven-week winning streak. This week the index is up 2.95% currently.

The S&P index is on a four-week winning streak. Its price is up 2.07%. The Dow industrial average is up 0.73% this week.

Needless to say the FOMC rate decision - and reaction to it - will be a key event. For the S&P index, it moved above the 61.8% retracement of the move down from the all-time 2022 high price this week. That level comes in at 4311.69. A move below the level would be needed to hurt the bullish bias.